Banks working for Broadcom have begun raising $60 billion in debt to finance AI chips for Anthropic and other companies, Bloomberg News reported, citing people familiar with the matter.
A day earlier, Reuters reported that a filing showed Broadcom would lend Anthropic up to $42 billion so the artificial intelligence company could lease Broadcom’s chips.
The banks are preparing to send syndication letters to investors for a $42 billion Class A senior-secured tranche, according to Bloomberg. The people describing the financing said the deal had not yet been announced.
Blackstone is leading a separate $18 billion Class B junior tranche. It will contribute $9 billion from its own funds and plans to sell the remaining $9 billion to other investors.
Broadcom declined to comment.
The financing arrangement has been coming together for weeks. People familiar with the talks said in August that it would help Anthropic and other companies obtain chips and other AI infrastructure.
Investors on Wall Street and in Silicon Valley are closely watching the deal amid public opposition to new data-center construction and concerns about the amount the AI industry is spending.
Beyond the loan, Anthropic is expected to become Broadcom’s largest customer next year, Barron’s reported.
The arrangement is part of Broadcom’s effort to sell more chips and data-center equipment and compete with Nvidia. Under this model, Broadcom helps finance customer purchases of its own products.
Nvidia has used a similar approach. In August, it announced a partnership with six large financial firms, including Blackstone, to raise more than $500 billion for AI, including financing to help customers buy Nvidia chips.
The Broadcom package adds to the hundreds of billions of dollars in debt already raised for AI infrastructure. Most of that financing has gone to data centers, although deals to fund chips and servers have also become more common.
Blackstone already holds a stake in Anthropic. That investment has helped increase returns at Blackstone’s private-equity fund for wealthy investors, Bloomberg reported.
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